[ Malaya.com.ph ] June 16, 2010
Ayala Land, Inc. yesterday said it has launched its first condominium project in Cebu City that will be marketed under the Avida brand.
A maiden entry of Avida into the Visayas-Mindanao area, the project will be a two tower condominium that will be built on a 6,262 sq.m. property of Asiatown IT Park in Cebu City.
The first tower will offer 518 units ranging from studio, one, and two bedroom units with prices starting at P1.6 million.
"The latest project cost will form part of the nearly 2,000 condominium units Avida plans to release for sale in 2010 in various metropolitan locations. It plans to invest approximately P5 billion this year, P2 billion of which is expected to be allocated for the development of in-city condominiums," Ayala Land said.
Ayala Land said the expansion in Vis-Min "is part of its strategy to significantly expand its presence in various growth centers and reach out to a greater number of people."
"Future Ayala Land developments in the region will include malls, hotels, BPO office buildings and other residential developments," the company said.